Walmart has acquired technology and intellectual property from advertising tech company Thunder.
The Bentonville retailer announced the acquisition on Thursday, Feb. 4 in a corporate blog post, stating that the technology will bolster Walmart’s display self-serve platform that will allow Walmart business partners to manage display campaigns. “While we expect our largest suppliers to adopt automation technology fastest, we are building this new platform to scale for Marketplace sellers and suppliers of all sizes,” Walmart chief customer officer Janey Whiteside said in a statement.
Terms for the acquisition have not been disclosed.
The Wall Street Journal first reported the acquisition. The paper reported that Walmart will be acquiring all of Paper G, which operates as Thunder Industries, including its technology, assets and a majority of its workforce.
According to the WSJ report, Walmart will be using Thunder’s technology to develop a self-service targeted advertising tool. This tool will enable advertisers to make and buy display ads that target multiple consumer demographics.
“Over the last two years, we’ve been on a journey to help advertisers run their campaigns more efficiently using self-serve and automation capabilities. With the launch of Walmart Advertising Partners Program, Self-Serve Sponsored Product Interface and our Performance Reporting Dashboards, we’re proud of the progress we’ve made on this journey. Today is another big step forward, and we’re thrilled to have the talented team at Thunder join Walmart,” Whiteside said.
The San Francisco-based ad-tech company, which was founded in 2007, has approximately 30 employees, according to Pitchbook.